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Sobeys receives approval for Safeway purchase from Competition Bureau
STELLARTON, N.S. – Sobeys says it will put 23 stores up for sale in exchange for regulatory approval for its $5.8-billion purchase of grocer Safeway Canada.
The Nova Scotia-based supermarket chain says the Competition Bureau approved the transaction with the understanding that certain locations in Western Canada would be put on the market.
Sobeys, which is owned by Empire Co. Ltd. (TSX:EMP.A), says the stores are under various labels, including Safeway, Sobeys, IGA and Price Chopper.
The stores are located in British Columbia, Alberta, Saskatchewan and Manitoba.
The company says it expects to close the acquisition of the Canadian assets of Safeway in early November.
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